GOODMAN GROUP — Capital/Financing Update 2005

Mar 14, 2005

ASX Release - Macquarie Goodman Group ("Macquarie Goodman")

Macquarie Goodman's Erskine Park facility almost complete

Date: 15 March 2005 Release: Immediate

Macquarie Goodman is pleased to announce that Pickfords has precommitted to a 14,549 sqm facility at Erskine Park Industrial Estate in Erskine Park, New South Wales.

Macquarie Goodman and joint venture partner of this estate Walker Corporation have secured a 15 year lease from Pickfords with a net annual commencing rent of \$1.4 million, to be market reviewed in years 5 and 10.

The project will incur additional capital expenditure of \$15.8 million and total project costs of \$17.3 million, delivering yields of 8.7% and 8.0% respectively.

Chief Operating Officer David van Aanholt said, "This latest precommitment takes the estate to a commitment level of 95%. Pickfords joins an impressive list of customers that have been secured over the past two and a half years at Erskine Park Industrial Estate including Stramit Industries, Packcentre, Hasbro and TNT Logistics."

"Pickfords' new facility will increase the efficiency of its records storage business with the consolidation of two existing facilities into a tailor-made solution surrounded by an excellent road network. The facility's position on the prime corner of Mamre and Erskine Park Roads also provides fabulous exposure for Pickfords' business," Mr van Aanholt said.

For further information, please contact Macquarie Goodman:

Gregory Goodman

Chief Executive Officer +61 2 9230 7400

Macquarie Goodman Group Macquarie Goodman Management Limited ABN 69 000 123 071 Macquarie Goodman Funds Management Limited ABN 48 067 796 641; AFSL Number 223621

Jayne Gerrie

Corporate Communications Manager +61 2 9230 7400

Level 10, 60 Castlereagh Street Sydney NSW 2000 GPO Box 4703 Sydney NSW 2001

Telephone (02) 9230 7400 Facsimile (02) 9230 7444 info@macquariegoodman.com.au www.macquariedoodman.com.au